Seize the means of production .. Now that the government has nationalized the automobile production facility, Venezuelans can rest easy knowing they’ll soon receive better cars at cheaper prices ..
—
“General Motors (GM.N) said on Wednesday that Venezuelan authorities had illegally seized its plant in the industrial hub of Valencia and vowed to “take all legal actions” to defend its rights.”
“The seizure comes amid a deepening economic crisis in leftist-led Venezuela that has already roiled many U.S. companies.”
“Venezuela’s car industry has been in freefall, hit by a lack of raw materials stemming from complex currency controls and stagnant local production, and many plants are barely producing at all.”
General Motors says Venezuela illegally seizes auto plant
General Motors (GM.N) said on Wednesday that Venezuelan authorities had illegally seized its plant in the industrial hub of Valencia and vowed to “take all legal actions” to defend its rights.
http://www.reuters.com/article/us-gm-venezuela-idUSKBN17M08I